Nifty Futures Intraday Trading Report July 05, 2011

Another day when I lost money to the markets. I entered long in between 5640 and 5650. Despite showing high potentials for an upmove, the trade got squared off for a loss because the contract hit a low of 5628. I had placed my stop loss in between 5630 and 5640.

Anyway, I got a chance to re-enter the trade once again in between the same levels. However, after about touching 5662, the value of the contract fell back to 5650 levels. This was where the trade was squared off for a minor profit.